Brightline ridership grew in October as South Florida riders took advantage of lower average fares and the cost of longer rides remained almost steady from a year ago.
The private passenger train service saw its total revenue increase 16% last month compared to last October, driven by more demand for its trains between Orlando and South Florida. Total revenue so far this year was up 13%.
That so-called long-haul service has seen double-digit passenger growth this year, carrying more than 1.5 million passengers. However, it has not been able to raise its average fares much on those longer trips. Year-to-date, the average fare for its long distance service is up just 28 cents compared to a year earlier.
Brightline released its October financial report to its bondholders last week. It showed its short distance business between its five South Florida stations remained price-sensitive. While ridership jumped 26% last month, the average short distance fare fell 17% to $22.84 – close to its lowest level of the year. Overall, short distance revenue was up 4% thanks to more passengers.
October also saw fewer Brightline trains running on its tracks as the service tweaked its schedule and added cars to its trains early in the month. Brightline ran more short distance trains more frequently in hopes of capturing more South Florida commuters. “The new network has enabled growth, particularly on peak days,” Brightline reported.
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Last month was the first full month of a new pricing structure for Brightline’s South Florida trains. It began charging peak and off-peak prices in late September. Peak fares are charged for morning and afternoon trains, as well as special event trains such as those for Miami Heat and Miami Dolphin games.
“We believe the change to fixed ‘peak’ and ‘off-peak’ pricing structure will prove attractive for frequent short distance customers who prefer consistency of pricing,” Brightine wrote to its lenders.
It ended a popular commuter pass in June 2024 that offered 40 rides for $399. It is offering the same pricing for 40 rides between Miami and Boca Raton or West Palm Beach if purchased before the end of the year. It’s an effort to rebuild its commuter pass business, which remains at less than half what it was despite reintroducing the pricing in May.
“We plan to restore the commuter business to historic levels over the next several months,” wrote Brightline.
The company has been telling its lenders it is looking to sell a “substantial” part of itself to investors for months. There was no meaningful update in its latest monthly financial report.
Brightline does not disclosure monthly operating costs.
